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MicroStrategy Buys More Bitcoin

MicroStrategy Acquires Additional 1,045 Bitcoins for US$29.3 Million

Apr 05, 2023
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Latest Purchase Brings Company’s Total Bitcoin Holdings to Over $12.6 Billion.

Business intelligence software company MicroStrategy has purchased another 1,045 bitcoins at an average price of US$28,016 per coin. This acquisition cost the company approximately $29.3 million and was announced by Michael Saylor, co-founder and executive chairman of MicroStrategy.



With this purchase, MicroStrategy now holds a total of 140,000 bitcoins - over $12.6 billion worth of Bitcoin - acquired for approximately US$4.17 billion at an average price of US$29,803 per bitcoin. This announcement comes just one week after MicroStrategy revealed that it had purchased 6,455 bitcoins for $161 million over the previous five weeks and paid off its $205 million loan from the failed Silvergate Bank.

As the largest corporate holder of bitcoin in the world, MicroStrategy's acquisition could have a positive impact on crypto investor sentiment. Indeed, MicroStrategy's shares rose 0.53% on the news of the purchase, to trade at $298.98 as of 8:30pm in Hong Kong. So far this year, MicroStrategy's shares have risen more than 106%, while the value of bitcoin has risen 71%.

MicroStrategy made its initial investment in Bitcoin in August 2020 and has continued to add to its holdings ever since. This significant investment demonstrates MicroStrategy’s belief in the long-term potential of the cryptocurrency.

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